the regular meeting minutes of january 10, 2020 were

BOARD OF DIRECTORSMUTUAL THREE

MINUTES OF THE REGULAR MONTHLY MEETING OF THEBOARD OF DIRECTORS

SEAL BEACH MUTUAL THREEFebruary 14, 2020

The regular monthly meeting of the board of directors of Seal Beach Mutual Three was calledto order by President Ginthner at 9:01 a.m. on Friday, February 14, 2020, in the AdministrationBuilding, Conference Room A, followed by the Pledge of Allegiance.

ROLL CALL

Present:

Absent:

President Ginthner, Vice President Turis, Chief Financial OfficerLedbetter, Secretary Hart, Director Harris, Tye, and Campbell

Ms. Stone, GRF Representative

Guests:

Staff:

Five Mutual Three shareholders

Ms. Hopkins, Mutual Administration DirectorMr. Van Horn, Building InspectorMs. Barua, Recording Secretary

SHAREHOLDERS' COMMENTS

Several Shareholders made comments.

MINUTES

The regular meeting minutes of January 10, 2020 were approved by general consent of theboard as written.

The Special meeting minutes of December 31, 2019 were approved by general consent of theboard as written.

The Special meeting minutes of February 4, 2020 were approved by general consent of theboard as written.

BUILDING INSPECTOR'S REPORT

Inspector Van Horn presented his report (attached).

Following questions, Inspector Van Horn left the meeting at 9:12 a.m.

BOARD OF DIRECTORSMUTUAL THREEGRF REPRESENTATIVE

In Ms. Stone's absence, the GRF report was submitted.

CONSENT CALENDAR

Following a discussion and upon a MOTION duly made Chief Financial Officer Ledbetter andseconded by Director Campbell, it was

RESOLVED to authorize the following transfers of funds per detailedresolutions.

|i-;iUiBUfc%sdvs

§|F,naTOi®iilffnaiBBi|ia|cgunS||oi,?!^i|•.•^•.^^wm^w,^^

01/03/2020 | $35,037.00 | M.J. Jurado (Invoice #598)01/13/2020 $25,113.50 US Bank Restricted Money Market to US Bank Non -

Restricted Money Market01/14/2020 $25,000.00 US Bank Non-Restricted Money Market to US Bank

Checking

01/21/2020 $62,157.27 US Bank Restricted Money Market to US Bank Non-Restricted Market

01/22/2020 $65,000.00 US Bank Non-Restricted Money Market to US BankChecking

01/22/2020 | $40,257.58 | US Bank Checking to US Bank Restricted Money Market02/01/2020 | $14,872.00 [ Total Landscape Maintenance (Invoice #7023)02/04/2020 $33,127.88 US Bank restricted Money Mkt. to US Bank Non-Restr.

Money Mkt.

02/05/2020 $166,493.62 ACH- Direct Debit from Multiple Shareholders to US BankChecking

02/05/2020 | $109,360,90 | US Bank Checking to GRF- US Bank Checking02/05/2020^1 $13,000.00 | Castlehead, Inc. Escrows (Invoice: Sale of31A)02/06/2020 | $61,519.51 | US Bank Checking to US Bank Impound

The MOTION passed.

NEW BUSINESS

Following a discussion and upon a MOTION duly made by Chief Financial Officer Ledbetterand seconded by Vice President Turis, it was

RESOLVED to acknowledge, per the requirements of the Civil Code Section5500(a)-(f), a review of the reconciliations of the operating and reserveaccounts, operating revenues and expenses compared to the current year'sbudget, statements prepared by the financial institutions where the mutual hasits operating and reserve accounts, an income and expense statement for theMutual's operating and reserve accounts, the check registers, monthly general


ledger and delinquent assessment receivable reports for the month of January2020.

The MOTION passed.

Following a discussion and upon a MOTION duly made by Vice President Turis andseconded by Director Campbell, it was

RESOLVED to approve the Roseman Proposal to draft Restated Set of Bylaws,at a cost not to exceed $1,300.00. Funds to come from Operating Income Legalfees.

The MOTION passed.

Following a discussion and upon a MOTION duly made by Chief Financial Officer Ledbetterand seconded by Director Campbell, it was

RESOLVED to approve that Mutual Administration send out an Opt-Out Notice,allowing the shareholder to remove their name, property address, mailingaddress, and/or email address from the membership list, per Civil Code §5220Membership List Opt Out.

The MOTION passed.

Following a discussion and upon a MOTION duly made by Director Campbell and secondedby Vice President Turis, it was

RESOLVED to accept the proposal for re-seeding grass in Mutual 3 for Building35 B-D, at a cost not to exceed $200.00. Funds to come from landscape Extrasand authorize the President to sign the contract.

The MOTION passed.

Following a discussion and upon a MOTION duly made by President Ginthner and secondedby Director Campbell, it was

RESOLVED to approve the Notice of Authorization to Close Escrow form.

The MOTION passed.

Director Campbell left the meeting at 9:55 a.m.

SECRETARY / CORRESPONDENCE

Secretary Hart received no correspondence.


CHIEF FINANCIAL OFFICER'S REPORT

Chief Financial Officer Ledbetter presented her report (attached).

MUTUAL ADMINISTRATION DIRECTOR

Mutual Administration Director Hopkins presented her report (attached).

ANNOUNCEMENTS

a) MUTUAL TOWN-HALL MEETING: February 29, 2020 1:00 p.m., Clubhouse Two

b) MUTUAL BY-LAWS TOWN-HALL MEETING: March 4, 2020 5:00 p.m., ClubhouseTwo

c) NEXT REGULAR MEETING: Friday, March 13, 2020, 9:00 a.m., AdministrationBuilding, Conference Room

COMMITTEE REPORTS

Emergency Information

No update provided.

Laundry Rooms

Secretary Hart provided an update.

Service Maintenance

Director Harris provided an update.

Landscape

No update provided

Physical Property

Vice President Turis provided an update.

DIRECTORS' COMMENTS

Several directors made comments.

SHAREHOLDERS' COMMENTS

Several shareholders made comments

BOARD OF DIRECTORSMUTUAL THREEADJOURNMENT

There being no further business to conduct, President Ginthner adjourned the meeting at 10:25a.m. and announced that there would be an executive session following to discuss memberissues.

EXECUTIVE SESSION SUMMARY

The Board met in Executive Session on February 14, 2020, at 10:46 a.m., and took thefollowing actions:

The board approved the minutes from the January 10, 2020 meeting.

1. Legal Mattersa. No legal matters were discussed.

2. Contractsa. No contracts were discussed.

3. Assessments / Delinquenciesa. Seventeen Delinquent letters were drafted.

4. Disciplinary Hearingsa. No disciplinary hearing occurred.

President Ginthner adjourned the meeting at 11:35 a.m.

^^^^A '^^—

A^fest, Dianne Hart, SecretarySEAL BEACH MUTUAL THREERB 02/14/2020Attachments


RESOLUTIONS IN THE REGULARMONTHLY MEETING OF February 14, 2020

02-14-20 The regular meeting minutes of January 10, 2020 were approved by generalconsent of the board as written.

The Special meeting minutes of December 31, 2019 were approved by generalconsent of the board as written.

The Special meeting minutes of February 4, 2020 were approved by generalconsent of the board as written.

RESOLVED to authorize the following transfers of funds per detailedresolutions.

!,::8gBBNiMi|eilil liW ill

01/03/2020 | $35,037.00 | M.J. Jurado (Invoice #598)01/13/2020 $25,113.50 US Bank Restricted Money Market to US Bank Non -

Restricted Money Market


01/21/2020 $62,157.27 US Bank Restricted Money Market to US Bank Non-Restricted Market


01/22/2020 | $40,257.58 | US Bank Checking to US Bank Restricted Money Market02/01/2020 | $14,872.00 | Total Landscape Maintenance (Invoice #7023)02/04/2020 $33,127.88 US Bank restricted Money Mkt. to US Bank Non-Restr.

Money Mkt.02/05/2020 $166,493.62 ACH- Direct Debit from Multiple Shareholders to US Bank

Checking02/05/2020 | $109,360.90 | US Bank Checking to GRF- US Bank Checking02/05/2020 | $13,000.00 | Castlehead, Inc. Escrows (Invoice: Sale of31A)02/06/2020 | $61,519.51 | US Bank Checking to US Bank Impound

RESOLVED to acknowledge, per the requirements of the Civil Code Section5500(a)-(f), a review of the reconciliations of the operating and resen/eaccounts, operating revenues and expenses compared to the current year'sbudget, statements prepared by the financial institutions where the mutual hasits operating and reserve accounts, an income and expense statement for theMutual's operating and reserve accounts, the check registers, monthly generalledger and delinquent assessment receivable reports for the month of January2020.


RESOLVED to approve the Roseman Proposal to draft Restated Set of Bylaws,at a cost not to exceed $1,300.00. Funds to come from Operating Income Legalfees.

RESOLVED to approve that Mutual Administration send out an Opt-Out Notice,allowing the shareholder to remove their name, property address, mailingaddress, and/or email address from the membership list, per Civil Code §5220Membership List Opt Out.

RESOLVED to accept the proposal for re-seeding grass in Mutual 3 for Building35 B-D, at a cost not to exceed $200.00. Funds to come from Landscape Extrasand authorize the President to sign the contract.

RESOLVED to approve the Notice of Authorization to Close Escrow form.

MINUTES OF THE SPECIAL (AGENDA) MEETING OF THE BOARD OF DIRECTORSSEAL BEACH MUTUAL THREE

December 31, 2019

A special meeting of the board of directors of Seal Beach Mutual Three was called toorder by President Ginthner at 11:07 a.m. on Tuesday, December 31, 2019, in thePhysical Property Conference Room, 2nd floor.

Those members present were: President Ginthner, Vice President Turis, CFO Ledbetter,Secretary Hart, Director Harris, and Tye.

Absent: Directors Campbell

The purpose of the meeting was to establish agenda items for January 10,2020, Boardof Directors Meeting.

President Ginthner adjourned the meeting at 11:30 a.m.

^^^Attest, Dianne^-lart, SecretarySEAL BEACH MUTUAL THREErb: 1/07/2020

MINUTES OF THE SPECIAL (AGENDA) MEETING OF THE BOARD OF DIRECTORSSEAL BEACH MUTUAL THREE

February 4, 2020

A special meeting of the board of directors of Seal Beach Mutual Three was called toorder by President Ginthner at 11:14 a.m. on Tuesday, February 4, 2020, in the PhysicalProperty Conference Room, 2nd floor.

Those members present were: President Ginthner, Vice President Turis, CFO Ledbetter,Secretary Hart, Director Harris, Campbell, and Tye.

The purpose of the meeting was to establish agenda items for February 14, 2020, Boardof Directors Meeting.

President Ginthner adjourned the meeting at 12:01 p.m.

///^t4fJ^.Attest, Dianne Hart, SecretarySEAL BEACH MUTUAL THREErb: 2/04/2020

February, 2020 CFO Report

By Jan Ledbetter

Financial Status as of January 31.2020

YTD Income: Actual= $169,151 Budget = $ 170,688Variance: ($1,537)

Represents a decrease in Inspection Fees and Late Charges

YTD Expenses: Actual =$161,101 Budget = $170,690Variance: $9,589

We are underbudget partially due to year-end adjustments and expenses budgeted that arenot yet used.

We continue to have numerous stoppages and are up this month fromlast January costs were $1,235. PLEASE be careful what you put intoyour garbage disposal and again—NO WIPES IN THE PIPES!

If at all possible, please do laundry before 4pm as that is the beginning of peak time and therate is almost 3 times the off-peak hours on weekdays, and almost 2 times the off-peak hourson weekends.

Update on By-law costs:

Past Costs: We were fortunate that the attorney divided his costs among the 10 mutuals that were rewriting by-laws.Attorney fees

Bylaws PrintingFor ballot measure

$2,200.005,730.80

New Costs:

Attorney fees charged:7/15 .4 hours

Copying chargesAttorney fees: 7.8 hours @ $260

*fees waived

$104.006.75

$2,028.00*

8SUIB8*' i- Box 2069lgf.ai Beach CA 90-^2

1003 Seal Beach Mutual No ThreeFinanaal Statement Recap

01/31/2020Page: 1

^

JanActea}

JanBudget 2026 Y-f-D

Actual2020Y-T-D

Budget

115.28743.888

165,175

115,28849,888

165.176

Carrying ChargesReserve Funding

Total Regular Assessments

115,28749,888

165,175

115,28849,888

165,176

2,087486

1.403

3,976

169,151

1,9271,0542,531

5,512

170,688

Service IncomeFinancial IncomeOther Income

Total Other Income

Total Mutual Income

2,087486

1,403

3,976

169,151

1,9271.0542,531

5,512

170.688

70,4649,0592050

19,87811,60849,888

161,101

8,050

8,950

(900)

70,46412,7103,672

1323,52310,42049,888

170,690

(2)

0

(2)

GRF Tmst Maintenance FeeUtilitiesProfessional FeesOffice SuppliesOutside ServicesTaxes & InsuranceContributions to Reserves

Total Expenses Before Off-Budget

Excess lnc/(Exp) Before Off-Budget

Depredation Expense

Excess lnc/(Exp) After Off-Budget 7

70,4649,059

2050

19.87811,60849,888

161,101

8.050

8,950

(900)

70,46412,7103.672

1323,52310,42049,888

170,690

(2)

0

(2)

(1,309)4,6884,125

16,625864

(20,981)

4,012

000000

0

Restricted ReservesAppliance Reserve EquityPainting ReserveContingency Operating EquityRoofing ReserveEmergency Reserve EquityInfrastructure Reserve

Total Restricted Reserves

53,882288,084205,777570,07128,46040,306

1,186,582

000000

0

zo

the regular meeting minutes of january 10, 2020 were

Documents